Aug 17, 2019

Hong Kong violence scares business

Riot police push protesters while attending to a wounded police agent in Sha Tin, Hong Kong. Photo: Ivan Abreu/SOPA Images/LightRocket via Getty Images

Hong Kong businesses are questioning if the city is safe after almost 3 months of protests, while others are being advised to create contingency plans if unrest continues, the BBC reports.

The big picture: Hong Kong's stock market is the 5th largest in the world, when considering the value of its traded companies. As of July, financial analysts said the territory's market hadn't yet suffered serious consequences — but regulatory changes caused by protests would be a different story entirely.

  • Some clients of law firm Harris Bricken are already turning away from Hong Kong — or asking how they can "lower their footprint" in the city, per the BBC.
  • Hong Kong's economy "will struggle to expand at all this year," according to a Thursday statement from Paul Chan, the city's financial secretary, Bloomberg reports. A stimulus package worth over $2 billion is in the works, according to Chan.

What's happening: Pro-democracy protesters have accused Hong Kong police of brutality and faced tear gas, rubber bullets and officers disguised as anti-government protesters.

  • Some protesters issued apologies this weekojectile on Aug. 11, causing a bloody scene that protesters blamed police for, per the Washington Post.
  • Some protestors issued apologies this week after demonstrations in Hong Kong International Airport devolved into "hand-to-hand clashes with riot police," the Post reports.

Go deeper: Investors worry Hong Kong protests could hurt business

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Over 1 million people rally as Hong Kong marks 11th weekend of protests

Pro-democracy protesters gather for a rally in Victoria Park, Hong Kong, on Sunday. Photo: Isaac Lawrence/AFP/Getty Images

Hong Kong pro-democracy protest organizers on Sunday called for the police chief and the security secretary to resign over their conduct toward activists, as the city experiences an 11th straight weekend of demonstrations, CNN reports.

What's new: Organizers say 1.7 million people took part in Sunday's peaceful mass protest in Hong Kong, though police are still surveying their own crowd estimates. Thousands still occupied the roads into the night outside the government headquarters in the Admiralty district.

Go deeperArrowUpdated Aug 18, 2019

Hong Kong protesters ignore government ban in 13th weekend of protests

Protesters gather in the bus terminal at Hong Kong International Airport on Sunday. Photo: Lillian Suwanprumpha/AFP/Getty Images)

Protesters blocked roads with burning barricades near Hong Kong International Airport and damaged a train station, AP reports. It followed a night of running battles between police and activists in Hong Kong's 13th weekend of pro-democracy protests.

Why it matters: Hong Kong is embroiled in the worst political crisis to hit the former British colony since it was returned to Chinese control in 1997. Protesters are rallying despite authorities issuing a ban on Hong Kongers gathering near central government offices. The airport has been off-limits to protesters since mid-August, when activists clashed with police while occupying the main terminal, the New York Times notes.

Go deeperArrowUpdated Sep 1, 2019

Hong Kong #MeToo rally against police held as Chinese troops cause unease

Hong Kongers wave their phones during a #MeToo rally against police sexual harassment Thusday. Photo: Chris McGrath/Getty Images

Thousands of people rallied in Hong Kong's streets Thursday against alleged sexual assaults by police on pro-democracy protesters, as images of the Chinese military moving into the city raised fears of a Beijing crackdown, the BBC reports.

Why it matters: What began 12 weeks ago as a rally against a bill proposing to extradite Hong Kongers to mainland China has become a massive anti-government protest to defend the high degree of autonomy residents have had since the former British colony was returned to China in 1997. Clashes between police and protesters have become increasingly violent.

Go deeperArrowUpdated Aug 29, 2019